The Australian Personal Property Security Act 2009: The Five Year Review

Australia's PPSA 2009 (Cth) and its PPS Register, commenced operation in January 2012. Whilst modelled on New Zealand and Canadian precedents, the Australian version led to a single National register achieved in a Federal system, and to a relatively lengthy 343-section statute, and significant amendments to separate insolvency legislation. In a number of key areas, Australia departed from the corresponding 'tried and tested' approaches in New Zealand and Canada.

The PPSA had a built-in statutory review, to be completed three years after commencement, and the review culminated in March this year in the delivery to Government of a 500-page Final Report containing 370 recommendations. This seminar discusses the key issues highlighted in that Report and puts them into the broader context of the design and policy choices to be considered for adoption of a personal property securities regime.